Emefiele’s removal will stabilise capital, forex markets: Expert
A financial expert, Okechukwu Unegbu, says suspension of the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, was a step in the right direction.
Mr Unegbu, a past president of the Chattered Institute of Bankers of Nigeria (CIBN), said this in an interview on Saturday in Abuja.
“Emefiele’s removal will positively impact the capital and foreign exchange markets, where he maintained multiple exchange rates.
“The multiple exchange rates had a negative impact on the economy,” he said.
He accused Mr Emefiele of refusing to accept wise counsel from experienced former bankers.
“His undoing was that he ignored the counsel of old and experienced bankers; he was so sure of his programmes and policies,” he said.
He said the suspension did not mean that Mr Emefiele had been sacked, adding that the president can only sack him through the National Assembly.
President Bola Tinubu had, on Friday, suspended Mr Emefiele as CBN governor.
The suspension was conveyed through a statement by Willie Bassey,
Director, Information Office of the Secretary to the Government of the Federation.
Mr Bassey said the suspension is sequel to the ongoing investigation of Mr Emefiele’s office and the planned reforms in the financial sector.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
10th NASS: PDP warns against influencing election of leadership
Mr Ologunagba emphasised the legislature’s independence and insisted that members must be allowed to elect their presiding officers.
World
Ted Kaczynski, ‘Unabomber’ terrorist who targeted victims with letter bombs, dies in U.S. federal prison
He was initially kept at federal supermax prison in Colorado for more than two decades before he was moved to a federal prison medical facility in North Carolina.
States
Ebonyi governor to support security agencies with vehicles
The governor said the meeting became imperative to proffer solutions to security challenges in the state.
States
NSCDC nabs three for allegedly defrauding POS agent in Ondo
Mr Aidamenbor explained how one of the suspects, Mr Saheed, defrauded an Opay agent using the POS to allegedly transfer fraudulent funds
Port Harcourt
Gov. Fubara revokes road construction contract in Rivers
He has also directed that the project be rewarded to a more competent contractor who would deliver timely and according to specifications.
NationWide
Tribunal dismisses Obi’s request to question INEC on technology deployed for polls
”Their application is incompetent, and the court lacks the jurisdiction to entertain it, and accordingly, the application is struck out,” it held.
